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The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter providing swap execution facilities (SEFs) time-limited, conditional relief from certain data reporting and record-keeping requirements in relation to confirmations required for uncleared swap transactions.
The no-action relief provided will expire at midnight (EDT) on 30 September 2015.
Commission regulation 37.6(b) requires a SEF to provide each counterparty to a transaction entered into on or pursuant to the rules of the SEF with a written record of all terms of the transaction, which supersedes any previous agreement and serves as the confirmation of the transaction.
The DMO
- 20/08/2014
The US Commodity Futures Trading Commission (CFTC) has issued a time-limited no-action letter it will not take enforcement action against Clearing Corporation of India Ltd (CCIL) for failing to register as a derivatives clearing organisation (DCO).
The no-action relief is limited to CCIL’s clearing of Indian Rupee-denominated interest rate swaps and Indian Rupee-denominated forward rate agreements for the proprietary trades of US clearing members.
The no-action relief is effective until the earlier of 31 December 2014, or the date upon which the Commission either registers CCIL as a DCO under Section 5b(a) of the CEA or exempts CCIL from
- 20/08/2014
Deutsche Börse has launched the HDAX Hedged USD Index, which measures the performance of the underlying HDAX while eliminating foreign currency fluctuations.
The HDAX Index measures all 110 stocks listed in the DAX, MDAX and TecDAX indices, representing more than 95 per cent of Germany’s free-float market capitalisation.
The HDAX Hedged USD Index can be used as an underlying for financial products or as a benchmark for active portfolios.
The HDAX Hedged USD Index combines the performance of the underlying index with a hypothetical, rolling investment into one-month foreign exchange forward contracts. By selling foreign exchange forward contracts,
- 20/08/2014
Commodity funds on the whole, as represented by the Newedge Commodity Trading Index, suffered slightly negative performance during the month of July, posting a -0.65 per cent return compared to the 0.63 per cent return in June.
The Newedge Commodity Trading Index remains in positive territory for the year so far, with returns of 2.79 per cent YTD.
The Commodity Equity sub-index was hit with losses of 2.31 per cent, bringing the strong performance seen so far this year to a halt. The year-to-date performance continues to be positive (2.27 per cent), but is substantially lower than the 4.85
- 20/08/2014
An anticipated rise in interest rates is accelerating the use of alternative investments by insurance general accounts, according to research from Cerulli Associates.


"Although they comprise a relatively small portion of total assets, large insurance companies have been known for their direct investments in private equity, real estate, and infrastructure," says Alexi Maravel, associate director at Cerulli.
"Much like other institutional investors, insurance chief investment officers and other investment professionals are using alternatives for diversification of investment risks, as well as seeking non-correlated sources of returns."


In their Insurance General Accounts: Opportunities in an Underserved Market report, Cerulli
- 19/08/2014
Thomas Conheeney will step down as president of Point72, a family office managing the assets of its founder and chief executive officer, hedge fund manager Steven A Cohen.
Douglas Haynes has been named as Conheeney’s successor.
“I thank Tom for all that he has done during his 15 years at Point72, first as chief operating officer then as president,” says Cohen. “Under Tom’s leadership, Point72’s predecessor, known as SAC Capital, grew into one of the world’s most successful hedge funds. Among his many accomplishments, he led us through the 2008 financial crisis, the 2010 aftershocks and the crisis following
- 19/08/2014
The SEC’s second annual staff report on the use of data collected from private fund systemic risk summarises how the data received from Form PF filers is used to protect investors and the integrity of the markets.
According to ConceptOne, the report is a clear mandate for the development, implementation and maintenance of a Regulatory Enterprise Risk Management (RegERM) system for the alignment of third-party disclosures.
The report highlights four areas of focus:
1. Examinations and investigations of private fund advisers
2. Risk monitoring activities
3. Providing additional guidance to filers
4. Working with other federal regulators
- 19/08/2014
- 19/08/2014
The US Commodity Futures Trading Commission (CFTC) has issued a no-action letter stating that it will not take enforcement action against the clearing house of the Chicago Mercantile Exchange.
This also includes certain clearing members of CME Clearing and depositories holding customer funds for such clearing members.
The no-action letter is in connection with the execution and submission to the Commission of a modified version of the template acknowledgment letter in Appendix A to Commission Regulation 1.20.
Regulation 1.20 requires futures commission merchants (FCMs) to obtain, from each depository with which the FCM deposits customer funds, a written
- 19/08/2014
S&P Dow Jones Indices (S&P DJI) has announced that no Russian stocks will be removed from its indices.
The index provider launched a consultation on 31 July regarding Russian securities in its indices.
Following the end of its client consultation regarding government sanctions placed on Russian companies, and following research conducted by S&P DJI as to the applicability of the sanctions put in place in various jurisdictions, no Russian stocks will be removed from S&P DJI indices and no adjustments will be made to its indices at this time.
“Based on comments received from stakeholders as well as
- 19/08/2014
SQL Power is to integrate its pre-engineered, eSignature ready regulatory platform at the Cayman Islands Monetary Authority (CIMA).
The solution will handle collection, analysis, and reporting of prudential returns and entitlements data submitted to CIMA by up to 40,000 of its regulated financial entities, across banking, trusts, insurance and hedge fund categories, and will unify and streamline CIMA’s regulatory operations across all sectors.
“The best regulatory software in the world meets one of the most complex and sophisticated regulatory business models in the world…and we welcome the challenge,” says Sam Selim, president and SQL Power co-founder. “We’ll be displacing
- 19/08/2014
- 19/08/2014
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